Professional University teaches a large range of undergraduate courses. It is interested in determining the cost equation for the facilities cost as a function of student credit hours so that it an more accurately budget its facilities costs as enrollment grows. Information for the high and low cost semesters and volumes for last 5 years appears below
| Semester |
Student Credit Hours |
Facilities Cost |
| Spring 2007 |
250,000 |
$500,000 |
| Fall 2004 |
300,000 |
$530,000 |
Using the high low method, with student credit hours as the activity driver, what is the equation for facilities cost (FC) as a function of student credit hours?